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07/11/25 17:02 UTC-04

Phoenix Group Launches 30 MW Bitcoin Mining Center in Ethiopia

Phoenix Group, a company listed on the Abu Dhabi Securities Exchange, has commissioned a 30-megawatt Bitcoin mining facility in Addis Ababa, Ethiopia. This marks the company’s latest operational site in Africa.

In a statement released on Thursday, Phoenix said that the facility was developed in partnership with the state-owned utility Ethiopian Electric Power and is located in the Bole Lemi Industrial Park.

The 6,250-square-meter facility adds approximately 1.9 EH/s to Phoenix’s global mining capacity. It is also designed to support future computational workloads, including artificial intelligence and high-performance computing.

Earlier this year, Phoenix secured 52 MW of mining capacity in Ethiopia, bringing its total portfolio in the country to 132 MW. According to the schedule at the time, the 52 MW expansion would proceed in two phases:

  • The first phase will deploy 20 MW of capacity, activating around 5,300 air-cooled mining units.

  • The second phase, scheduled for completion by the end of Q2 2025, will add an additional 32 MW using hydro-cooling technology.

According to Phoenix’s Q3 results, the company mined 305 BTC, including 195 BTC from self-mining operations, implying a self-mining hash rate of around 4.34 EH/s.
As of the end of September, the company’s operational treasury held 682 BTC and over 642,000 SOL tokens.

Phoenix stated that it expects to bring an additional 62 MW online in Ethiopia and 44 MW in North America to drive growth in Q4. Another 90 MW is scheduled for connection in 2026. The company projects that its self-mining hash rate will reach approximately 13 EH/s by early next year.

See also: "Bitcoin miners MARA and Hut 8 boost profits and BTC holdings in Q3"

#Mining

Editor: Jerg Wos
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